Garden Reach Shipbuilders and Engineers (GRSE) is planning to double its shipbuilding capacity by mid-2012.
The defence PSU shipyard will be capable of building major warships after the expansion, said KC Sekhar, chairman and managing director, GRSE.
GRSE, which has launched corvette-class anti-submarine warship in the trials before its induction into the Navy on Monday, is building three other warships in the same class. These three ships are expected to be commissioned by early 2015.
The defence PSU has increased its turnover to Rs 870 crore this year from Rs 100 crore three decades ago. ?We have increased the steel throughput to more than 125 tonne per month,? Sekhar said. Its pre-outfitting has also increased to 40% after launch of the warship on Monday.
The PSU, which has produced 70 warships and 69 commercial vehicles in last 50 years, is targeting a turnover of Rs 1,000 crore by next fiscal.
Present at the launch of the warship, Sekhar said the corvette has stealth characteristics and low underwater noise signature. The ship has a unique hull form called ?X-form? which makes its detection difficult.
?The ship will be able to fight in nuclear, biological and chemical environment. It can cruise through water at more than 25 knots,? he said.